December 05, 2022

  • Daily Motion

Triton to invest Rs 2,100 crore to establish EV manufacturing plant in Telangana  

Triton to establish EV manufacturing plant

Triton to invest Rs 2,100 crore to establish EV manufacturing plant in Telangana  

The Telangana Government has secured another huge investment in the electric vehicle sector. The government has signed an MoU agreement with the Triton Electric Vehicle, a leading US-based EV manufacturer. It will invest Rs 2,100 crore in the state to establish an ultra-modern manufacturing plant. The new EV manufacturing unit will create employment opportunities for 25,000 local youth, said the IT and Industries Minister KT Rama Rao. Let us read more in detail about the Triton to establish an EV manufacturing plant.

Triton to establish EV manufacturing plant

The Telangana government’s Department of Industries and Commerce has signed a Memorandum of Understanding (MOU) with the US-based company for the establishment of a manufacturing unit for electric buses at NIMZ, Zaheerabad. The minister’s office said the initiative will employ more than 25,000 persons and produce 50,000 vehicles over the first five years including semi-trucks, sedans, luxury SUVs, and rickshaws.

The government of Telangana will provide the needed land to the company through TSIIC at NIMZ Zaheerabad. The Triton EV and the Telangana government announced that this facility will cover a million square feet. The Triton EV plans to invest $1.5 billion in this manufacturing facility over the next five years. In the next few months, the first instalment of $300 million will be injected.

 

The Triton EV CEO Himanshu B Patel has shared the company’s plan for the expansion of the electric vehicles industry with Telangana Industries Minister KT Rama Rao through a video conference. He said that they already have $2.2 billion in purchase orders from India. The company has also received orders for 3000 electric vehicles from the Telangana government itself.

Triton has chosen its facility located at Zaheerabad’s National Investment and Manufacturing Zone (NIMZ) and could make over 50,000 sedans, semi-trucks, luxury SUVs, e-rickshaws, and other EVs within five years of its operation.

Triton Electric Vehicle LLC has signed an MoU with Hyderabad-based Talwar Auto Garages as the South India distributor for its e-trucks. The company will have electric trucks in the 50 tonnes to 100-tonne range which is expected to be available by April 2022. The company is also planning to roll out some smaller electric trucks.

Also, read the related: Triton EV Model H pre-bookings commences from May 10th

If you are an EV manufacturer or EV Dealer or EV Supporter who want to share news related to electric vehicles on our website, please send an email to crm@electricvehicles.in

For the latest electric vehicles news, follow electricvehicles.in on  Twitter, Instagram,Facebook and our YouTube Channels EnglishHindi, Telugu and Tamil 

About The Author

Mastered in Journalism and I am a dedicated writer for ElectricVehicles.in since 2018. I am an EV enthusiast. I love to write about electric vehicles, technology, startups, people, fashion, and trends. Through my writings, I love to contribute to my team's efforts to reduce the pollution levels in the world, especially from India.

Related posts